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next substantial element in concern to the development and implementation of an effective KM strategy is people and culture. Successful execution of KM is significantly associated with a firm's people and culture. The management of Toyota also needs to develop an effective association between its KM strategy implementation & its people and culture. By focussing on its employees and their significant role, the company can have a distinctive KM strategy implementation (Maêrtensson 2000, p. 211).

The company that concentrates on its people and culture are much more able to attain its goals in comparison to the firm that concentrates more on technology. This should also be understood by Toyota and then only it will become proficient in the thriving implementation of its KM strategy (Jasimuddin 2008, p. 59). By understanding that the people and culture plays a central role in the creation of thriving knowledge based firm the company management can easily resolve all its people and cultural related issues. These issues are vital to be handled in a timely manner as otherwise it may direct company towards several disadvantages (Morey, Maybury & Thuraisingham 2002).

Adoption of Creativity:
The next substantial element that should be considered by Toyota for improving its existing KM practices is the inclusion of creativity as it is vitally linked with strategy. By establishing a link between strategy and creativity, the company will become able in maintaining its position in the long run (Hlupic 2003). By associating KM and creativity, the company management can attain business creativity so it is essential to consider creativity at the time of developing a KM strategy.

Creation of Learning Networks:
One more critical element of KM is the creation of learning networks so that employees can learn from each other and maximize their knowledge. By creating learning networks, Toyota can also resolve its existing troubles of knowledge sharing and becoming a learning organization (Maêrtensson 2000, p. 212). In present employees of the company are not so focussed but by evidencing them KM benefits, they can be encouraged for the development of learning networks.

Significance of Sharing Knowledge:
Another important element that needs to be included by Toyota at the time of developing and implementing its KM strategy is sharing knowledge. The company strategy is lacking in concern to this element and should work hard for improving it and including it in its KM strategy. Nowadays, it is seen that employees does not prefer to share their knowledge with other due to increasing competition (Maêrtensson 2000, p. 211). Management of the company should try to build a positive environment in which everyone like to share knowledge with others so that they can increase their knowledge (Liebowitz 1999).

In this concern, the company management should try to share existing knowledge with its new and present employees through groups' discussions and regular seminars. They should try to develop an open and flexible environment in which everyone has intensity to increase its existing knowledge base. By adopting these approaches employees' habit of sharing knowledge can be intensified in a significant way.

Appropriate Incentives to Employees:
The next critical element in regard to KM strategy is the creation of appropriate incentives for employees